According to a report by the Hong Kong-based South China Morning Post on November 1st, although the trade situation between Beijing and Brussels remains tense, some European companies have indicated that trade disruptions from the United States pose a greater challenge for them.
Currently, many European companies are seeking to strengthen their cooperation with China. At the same time, Chinese automakers are rushing to arrange early exports, in order to avoid potential trade barriers in the future.
Reports indicate that last week, at the 19th China-EU Investment, Trade and Technology Cooperation Conference held in Chengdu, the willingness of European companies to strengthen business connections was quite evident.
Hundreds of enterprises from China and Europe, representing various industries, filled the venue for a business matching activity. Representatives from each enterprise engaged in discussions at different negotiation tables, seeking potential partners and investors.
Some European business representatives said that they are not too worried about the current tensions, and instead believe that there is great potential for cooperation in areas such as automobiles, renewable energy, and agriculture.
Portuguese consulting firm Stream's managing partner, Nuno Alfao, said that the biggest challenge faced by Chinese enterprises is 'the instability from the United States'.
He pointed out that the uncertainty of U.S. trade policies and their impact on business planning and investment pose challenges for businesses. “The United States is building walls, which not only affects relations between Europe and the United States.”
Orfalou further said that trade friction between China and the United States is more severe than between Europe and the United States, which has created additional impetus for Chinese companies to explore cooperation opportunities.
Jorge Max, CEO of the Spanish-based digital trading platform Space Mall, also expressed a similar view.
He stated that since last year, the United States has imposed higher tariffs on the EU and other markets, raising the costs for European producers in North American markets. This has forced many companies to turn their attention towards the East.
Max used the price of wine as an example, stating that today European wines are priced 15% to 25% higher in the United States than they were three years ago. Part of this is due to the tariffs imposed by the United States last year.
He pointed out that Europe must 'open its mind' and recognize where the real growth opportunities lie. 'The market is in Asia. We must be prepared to open doors to trade with Asia, to establish genuine and good trading relations—in general, to trade with China.'
Max also warned that EU policies towards China could ultimately benefit American companies.
He said that rising costs are making European buyers reluctant to purchase goods directly from China, leading some of them to choose Amazon instead. “Who will win in the end? American companies.”
The spokesperson for the Ministry of Commerce of China, Huang Ling, recently stated that China is not the root cause of the problems faced by the EU, but a partner in solving these issues. China is willing to strengthen dialogue and consultation with the EU, continuously explore ways to address mutual economic and trade concerns, and promote a balanced and positive development of Sino-European trade.
"However, the Chinese side resolutely opposes any form of protectionist behavior using trade defense instruments. If the EU insists on going it alone, China will take all necessary measures to protect itself and its legitimate interests." Huang Ling said.
